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Black Mountain Resources Ltd.
Summary
| Project: | Namekara | |
|---|---|---|
| Deposit: | Namekara | |
| Location: | Uganda | |
| Commodities: | Vermiculite | |
| Date: | 3/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-3-2017: Black Mountain Resources Ltd. announces a Resource Estimation report for its Namekara deposit at the Namekara project. Updated Mineral Resource Estimate and Initial Ore Reserve at Namekara. Black Mountain Resources Limited (ASX:BMZ) (Black Moun | |
| Resources: | (Reserve, Prob.): 1.16Mt @ 24.8% Vermiculite for 288Kt Vermiculite contained at project | |
| CP/QP: | [Resources]: Matthew Cobb (CSA Global Pty Ltd.) | |
| ABSTRACT: | Black Mountain Resources Limited (ASX:BMZ) (Black Mountain or the Company) is pleased to announce its maiden Ore Reserve estimate and an updated Indicated Mineral Resource for the Namekara Vermiculite Deposit located in Uganda, see Figure 1 and Table A1. The Ore Reserve estimate is a culmination of the 2,415m resource drilling program undertaken by BMZ, (announced to the ASX on the 24th of February 2017) and Mineral Resource updates by CSA Global Pty Ltd (“CSA Global”) using the BMZ drill data in conjunction with 3,490m reverse circulation (“RC”) by Rio Tinto (“Rio”) and 3,408m diamond core (“DC”) by Gulf Industrials (“Gulf”) announced on the ASX on the 10th of March 2017. Furthermore, ongoing feasibility studies completed by BMZ, 15 years of mining, processing and marketing experience and optimised pit designs have been used as a basis to convert the Indicated Resource into Ore Reserves. Black Mountain’s Chairman and Chief Executive Officer Julian Ford commented: “The long term mine planning for the Namekara orebody is taking shape and progressing well. Namekara is a world-class orebody and the Company is focused on implementing plans that will maximise its value in the long term and also ensure that our growing list of global customers can plan confidently for the future supply. The Company is pleased that our estimates to drill out a 5 years rolling Mine Plan have come to fruition and that dry season drill plan was spot on with respect to achieving the 5 year plus Reserve. With only 10% of the area currently covered by Inferred Resource being subjected to infill drilling, our team remains confident of further expanding the Namekara Project into a long life mining operation.” | |
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